Loading...
•
Jun 30, 2023
Allbirds Q2 2023 Earnings Report
Exceeded Q2 2023 guidance targets and delivered continued progress under the company’s strategic transformation plan.
Key Takeaways
Allbirds reported a 9.8% decrease in net revenue to $70.5 million compared to the previous year, but showed a 3.8% increase compared to Q2 2021. The company experienced a net loss of $28.9 million, or $.19 per share. However, it significantly reduced operating cash use and generated positive operating cash flow of $0.8 million. Gross margin increased to 42.8% compared to 36.1% in the second quarter of 2022.
Net revenue decreased 9.8% to $70.5 million versus a year ago and increased 3.8% compared to Q2 2021
Gross profit totaled $30.1 million compared to $28.2 million in the second quarter of 2022, and gross margin increased to 42.8% compared to 36.1% in the second quarter of 2022.
Ending inventory decreased 24% versus a year ago and represented the lowest level since Q2 2021
Generated positive operating cash flow of $0.8 million compared to negative operating cash flow of $24.1 million a year ago.
Allbirds
Allbirds
Allbirds Revenue by Geographic Location
Revenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Allbirds is providing financial guidance for the third quarter of 2023, reflecting ongoing work under the Company’s strategic transformation plan.
Positive Outlook
- Net revenue of $56 million to $61 million
Challenges Ahead
- Net revenue decrease of 23% to 16% versus the third quarter of fiscal 2022.
- Adjusted EBITDA loss of $23 million to $20 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income